SBC's Purchase of PacTel
Wins Regulators' Approval

California regulators approved Pacific Telesis Group 's plan to be acquired by SBC Communications Inc., paving the way for the two Baby Bells to close their $17 billion deal.

In a major victory for the companies, California regulators said Monday they wouldn't seek major financial givebacks in exchange for their blessing, nor require the companies to adhere to a thicket of regulatory restrictions that others had sought.